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Car Audio Market Share

Report ID: GMI5335
Published Date: Mar 2023
Report Format: PDF

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Car Audio Market Share

Some of the key participants involved in the competitive landscape are

Sony Corporation
Panasonic Corporation
Pioneer Corporation
Harman International Inc.
Premium Sound Solutions
Bose Corporation
JVC Kenwood Corporation

These firms are engaging in new product launches, innovating audio technology, and strategic alliances to attain a competitive edge. For instance, in February 2022, Harman International Inc., an audio electronic firm, launched its range of acoustic innovations, Ready Together and Software-enabled Branded Audio, featuring a software platform that upgrades sound quality. The company aims to provide connected technologies & solutions for consumer, automotive and enterprise markets.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of car audio surpassed USD 10 billion in 2022 and is anticipated to grow at 5% CAGR from 2023 to 2032 propelled by the increasing popularity of electric vehicles, along with growing demand for integrated sound systems with mobile apps.

The voice-recognized segment is poised to cross USD 10 billion revenue by 2032 due to the surging demand for the productive and remote features provided by advanced voice-controlled assistants.

The OEM sales channel is estimated to amass USD 12 billion in revenue by 2032 owing to the increasing number of partnerships between speaker manufacturers and automakers.

The APAC car audio industry is slated to witness 6% growth rate during 2023-2032 on account of the worsening traffic congestion and the increased amount of time spent in cars in the region.

Some of the major firms operating in the competitive landscape are Sony Corporation, Panasonic Corporation, Pioneer Corporation, Harman International Inc., Premium Sound Solutions, Bose Corporation, and JVC Kenwood Corporation.